How to Open a Bank Account in Georgia as a Foreigner
3 minute read | Last Updated 17th November 2025
Written by: Lela Gochitashvili
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Introduction
Georgia’s business-friendly environment continues to attract foreign investors with its liberal tax policies, strategic geographic location, and transparent banking system. Whether you plan to establish a company, register as an individual entrepreneur, or purchase property, you will likely need to open a bank account in Georgia to manage finances legally and efficiently.
This article explains how foreigners can open a bank account in Georgia, what documents are required, and how business owners can use their accounts for daily operations, tax payments, and cross-border transactions.
Why Open a Bank Account in Georgia?
Georgia offers a stable banking system, low taxes, and business-friendly conditions. Opening a bank account provides several advantages:
- Ability to receive and send international payments in multiple currencies (USD, EUR, GEL, GBP)
- No capital control restrictions, allowing free transfer of funds abroad
- Direct integration with the Revenue Service for paying taxes and managing accounting online
- Eligibility to apply for a residence permit in Georgia through business or investment activity
- Support for digital banking and corporate cards to manage global operations
Who Can Open a Bank Account in Georgia?
Both individuals and legal entities can open accounts in Georgia:
- Foreign citizens residing or doing business in Georgia
- Individual entrepreneurs (IEs) registered locally
- Foreign-owned companies registered under Georgian law
- International investors establishing subsidiaries or branches in Georgia
Even if you are not a resident, most Georgian banks allow you to open a bank account in Georgia with a valid passport and supporting documents.
Documents Required to Open a Bank Account in Georgia
The exact requirements vary by bank, but generally you’ll need:
For Individuals
- Valid passport
- Georgian mobile number and local address (lease or property ownership document)
- Proof of income source or business activity (e.g., invoices, contracts)
- If opening remotely: notarized and apostilled power of attorney authorizing a representative
For Companies or Individual Entrepreneurs
- Company registration documents (extract from the Public Registry)
- Director’s passport and company charter
- Tax ID number (issued by the Revenue Service)
- Corporate seal (optional but recommended)
- Proof of business address and activity plan
- Proof of income
- Statement of any existing foreign bank accounts
Most banks also require a short interview with a compliance officer to verify the nature of your business and confirm that it complies with Georgian AML (anti-money-laundering) regulations.
Which Banks Are Best for Foreign Business Owners?
Georgia’s banking sector is English-friendly and well-regulated. The main banks trusted by foreign business owners are:
Bank | Best For | Highlights |
Startups & tech companies | Strong online banking; English support; multi-currency accounts | |
Large foreign businesses | Corporate services, international transfers, premium packages | |
Small entrepreneurs & freelancers | Simple onboarding, mobile app, low fees | |
Agricultural & trade sectors | Business lending & regional presence |
All major banks are licensed by the National Bank of Georgia and offer robust digital banking systems that allow clients to manage accounts remotely once opened.
Can You Open a Bank Account in Georgia Remotely?
Yes, you can! In many cases, foreign business owners can open a bank account in Georgia remotely, provided they issue a power of attorney (PoA) to a trusted representative in Georgia.
Requirements for remote account opening:
- The PoA must be notarized and apostilled or legalized in your home country.
- It must specify the authority to open and manage the bank account.
- The document must be translated into Georgian and notarized locally.
However, not all banks support remote onboarding for foreigners, and some still require an in-person visit for final verification. At Orson, we’ve helped several of our clients coordinate this process.
Steps to Open a Business Bank Account in Georgia
- Register your business, as a company or individual entrepreneur (takes 1-2 days).
- Select your preferred bank based on your needs (corporate services, online banking, fees).
- Prepare documents: business registration, passport, tax ID, and PoA if applicable.
- Visit or authorize a representative to submit your documents.
- Meet compliance requirements: explain the purpose of your account and expected turnover.
- Receive account details and activate online banking within 1-3 business days.
Once opened, you can link your account to Georgia’s e-government services for tax payments and reporting.
Currency Accounts and Banking Fees
You can open multi-currency accounts in GEL, USD, EUR, GBP, and other major currencies.
Typical fees are:
- Account opening: free
- Monthly maintenance: 0-10 GEL
- International transfer: 0.1-0.3% (min. $15-$30)
- Card issuance: 10-30 GEL
Many banks also offer corporate debit and credit cards, merchant terminals, and currency exchange services.
Banking Compliance and Transparency
Georgian banks adhere to international AML/CFT (Anti-Money Laundering and Counter-Terrorist Financing) standards. As a foreign client, you may be asked to provide:
- Information on beneficial ownership of the company
- Proof of business activity (e.g., website, contracts, invoices)
- Expected monthly turnover and counterparties
Providing accurate information is critical to ensure smooth approval and avoid compliance delays.
Tax Integration and Online Management
Once you open a bank account in Georgia, you can connect it to your Revenue Service (RS) account to:
- Pay taxes directly from your online bank
- Receive automatic transaction syncing for bookkeeping
- Track invoices and VAT obligations in real time
Many business owners appreciate Georgia’s digital integration, which simplifies accounting and reduces administrative work.
Conclusion
Opening a bank account in Georgia is straightforward as long as the legal and compliance requirements are followed. Foreign business owners can easily establish accounts in major Georgian banks, operate in multiple currencies, and enjoy full financial freedom with minimal bureaucracy.
If you have additional questions or are not sure how to submit the documents correctly, don’t hesitate to contact us. We can support with a specific step, or manage the entire process from start to finish.
